Africa’s richest man, Aliko Dangote, is easing the holiday travel crunch by cutting petrol prices at his refinery by 5.6%.
From Friday, Dangote Refinery began selling Premium Motor Spirit (petrol) at N828 ($0.57) per liter, down from N877 ($0.61). This marks the second major price adjustment in three months, reflecting global oil trends and local supply costs.
The refinery, which releases over 45 million liters of petrol and 25 million liters of diesel daily, has also launched a CNG truck fleet to expand nationwide delivery, expected to save Nigeria about N1.7 trillion ($1.13 billion) annually in transport costs and create 15,000 jobs.
Commissioned in 2024 with a capacity of 350,000 barrels per day, Dangote Refinery aims to reach 1.4 million barrels daily within three years. The latest price cut highlights Dangote’s growing role in stabilizing Nigeria’s fuel supply, offering motorists relief just in time for the festive season.